The US Senate Banking Committee has delayed progress on a major crypto market structure bill following public opposition from Coinbase CEO Brian Armstrong. Armstrong warned that the proposed legislation could limit innovation, weaken consumer protections, and give excessive control to traditional regulators without clear rules for digital assets. His comments intensified divisions among lawmakers and industry stakeholders, prompting senators to pause deliberations and seek further input. The delay underscores ongoing challenges in crafting bipartisan crypto regulation as the US balances oversight, innovation, and global competitiveness.